Brait £780 million acquisition of New Look

Overview:

• South African private equity firm Brait has completed the £780 million acquisition of UK fashion retailer New Look. Private equity firms Apax and Permira were the major selling shareholders.
• Prior to Brait’s expressed interest there had been an intention to float New Look, which would have made it the latest in a line of British retail brands looking to the equity markets to raise capital following the likes of DFS and Pets At Home.
• The deal follows on from Brait’s acquisition of UK gym chain Virgin Active in late April 2015.

Sam Duke - Editor